The "300,000-head" project of the Great Kang animal husbandry

September 16, the Beijing News "listed companies weekly" published on the Hunan Agricultural Enterprises, the exclusive investigation of animal husbandry, the 17th night, the health of animal husbandry issued a notice of the report on the related matters to clarify. As to the question of individual "leasing assets" as their own assets, the "clarification" of the animal husbandry industry is not a lease; In the doubt that the project has not been completed, the animal husbandry industry admits that it has not reached production, but avoids the contradictory statement about the progress of the project in the 2012 and 2013 reports Tai Kang Animal husbandry also denied the pig farm "back to rent" situation, but in the previous interview, the company's chairman Chen Liming to the Beijing News reporter personally admitted to the "return to rent." The Chairman of the board admitted that the "back to rent" Tai Kang animal husbandry is the acquisition of the "Pig farm" to rent to the farmers? In previous reports of the Beijing News, Chen Liming, chairman of the sports and animal husbandry, had personally admitted that the "return to rent" situation existed, and the recordings of the interview were still kept. In an interview with the Beijing News reporter on September 9, Chen Liming said that in 2011, the acquisition of the 14 pig farms, the position of slightly biased, about half to rent to the original farmers, the same year, the acquisition of the duck Mouth rock culture community, "side of the 3" has been returned to rent. He also said that the acquisition of the Lixian Ping ' an pig farm, "also returned to rent a year." "I can maintain the assets, and I can get a portion of the rent," he said. "Chen Liming said. However, the 17th announcement of the clarification by the great Kang Animal husbandry has overturned Chen Liming's claim that there is no "return to rent". In addition, in the previous interview, The Tong Mu Xi Pig Farm's "owner" Mr. Luo has told the Beijing News reporter, the pig farm of the big Kang only rent 2 years, the contract only signed 1 years. Tong Mu Xi Township agricultural Products Quality Management station of his surname staff also confirmed that the pig farm large Kang livestock did not buy, but leasing. In the prospectus of the Tai Kang animal husbandry, it is stated that the pig farm is the company's own assets, it is paid 4.16 million yuan before the listing and signed the contract of transfer of assets. In the 17th clarification of the announcement, the Tai Kang animal husbandry for the pig ownership of the description of the same as the prospectus. For the prospectus referred to as "asset transfer contract", the reporter had repeatedly to Chen Liming, hope that it issued the "asset transfer contract" to prove the pig farm ownership, but were rejected. September 14, Chen Liming called the transfer contract was found, but refused to fax or photograph, said: "If you want to see, you can wait until after the mid-autumn Festival I brought Beijing." "As of September 22 Press, the Beijing News reporter still did not obtain the proof of the pig asset ownership of the written evidence." "300,000-head" project presented in two versions Beijing News reporter previously found that the big Kang livestock raising investment projects-"300,000 ecological pig community" has not been completed. But in the 2012 report released in April this year, the great Kang Animal husbandry said that the "300,000-head" project had reached its intended use in October 2012. September 17, the Great Kang Animal husbandry issued a "clarification bulletin", said the "300,000-head" project two of the 100,000 projects (Neu Kang animal husbandry and Xupu cat public field) did not produce. Tai Kang Husbandry said, the use of fund-raising, you should refer to the special report issued July 4, 2013. Beijing News reporter consulted the report, there are "300,000" project "is still under construction" statement, the report also predicted that "300,000" project will be in December 2013 to achieve the expected use of the state. However, more than 20 days after the release of the special report, the company said that the "300,000-head" project had reached its expected use in October 2012. For "300,000-head" fundraising projects, special reports and semi-annual report of the statement, showing two versions. The contradictions between the two versions of the "clarification announcement" of the Great Kang animal husbandry are not explained. Beijing, a long-time company engaged in mergers and acquisitions lawyers told Beijing News reporter, the company for the Investment Project Progress Information disclosure contradictions, annual reports, the relevant statements in the report is misleading investors suspected. The Cat project is still the Orange Grove "300,000-head" project why did not reach the production? The special report blamed the breeding of the pigs for the failure to produce, and the time needed to produce the cubs. The report says the current breed of swine is less than 300,000 cubs, so it has not yet reached the promised benefits. According to this explanation, it is only a matter of time before production reaches 300,000. Beijing News reporter interviewed found that the project failed to reach production, and hardware construction lag. Tai Kang Animal husbandry "cat Public farm 100,000 Project" location, early September, the Beijing News reporter to buy pig farm name to visit, Tong Mu Xi Township Agricultural Products quality Safety Management station staff said, the big Kang animal husbandry in the cat public farm planning of the 100,000 pig farm is still in the preliminary working condition. The staff said that Kang has been said to land and expand farms here, but no movement. Beijing News reporter at the scene, this is still a large area of orange forest. The boss of a nearby pig farm said that in the planning of Tai Kang, cat public field of 100,000 projects is the cat farm and nearly 1 kilometers away from the big pig farms into one, the reason is not to get up, the main reason is the land, "Tai Kang want to build a pig farm, the government has to build the industrial park in the Cat public field." Chen Liming, chairman of the Sports animal husbandry, has said that the construction of the cat public farm has had some problems in the land, but the local government has canceled the planning of the industrial park, and the future cat farm will build the agricultural demonstration Park. But this information was never disclosed by Tai Kang Husbandry. Project raised funds have spent 95% of the investment project has not been completed, the big Kang Livestock "300,000" project to raise funds is almost spent. According to the disclosure of the special report, as of March 31, the "300,000-head" project raised funds have used 132 million yuan, accounting for the project investment of 95.82%. The report did not disclose the specific use of the funds. Cat Farm pig farms are still in the "early stage of work status." As of March 31, the "300,000-head" project funds only a balance of 5.7 million yuan. In the interview, Chen Liming has said that if the fund-raising is not enough, it will use extra funds to supplement. But each of the extra funds, have a corresponding use. According to the announcement, the 320 million Yuan plan of super raise is invested in 4 projects. Currently, these projects areCapital investment has been basically in place. Three years of fixed assets from 50 million to 440 million of the four major accounting firms, an accountant told the Beijing News reporter, according to the sports and animal husbandry fund-raising special report, "300,000" project up to this March has not been completed, but the 2012 annual report shows "has reached the expected use of the status." "Achieving the expected availability means that the asset will be credited to the company's fixed assets." The accountant said the increase in fixed assets would lead to higher depreciation costs for fixed assets, which would reduce the company's net profit. A professor of accounting at Shanghai Polytechnic University also held the same view, saying that according to China's accounting standards, as long as "to achieve the intended use of the project," means that this project can be converted into fixed assets, so as to account for depreciation of fixed assets. In real-world operations, companies sometimes reduce profits by increasing depreciation in fixed assets, "making the statements more consistent with their needs." "she said. At the end of last year, the company gave a full-year profit forecast in the third quarterly bulletin, but in February 2013, it suddenly failed, and in 2012 it lost nearly 19 million yuan. Due to the performance of the face, and correction, Tai Kang animal husbandry has also been criticized by the SFC. According to the 2012 report, the "300,000-head" project was expected to be available in October 2012. This means that the fixed assets of Tai Kang livestock have increased sharply in the fourth quarter of last year. Beijing News reporter Check the 2010, 2011, 2012 Annual report, found that the two years of the company's fixed assets have increased significantly, of which, the company's fixed assets in 2010 to more than 50 million yuan, 2011 rose to 310 million yuan, 2012 increased to 440 million yuan. Correspondingly, in 2012, the Great Kang Animal husbandry recorded 17.38 million yuan of fixed assets depreciation, and the annual net profit of animal husbandry is-18.98 million yuan.